Wednesday, September 28, 2022

Monday, September 19, 2022

How Is The Long Beach Island Real Estate Market This Year Compared to Last Year

 

How Is The Long Beach Island Real Estate Market This Year Compared to Last Year






Long Beach Island Real Estate

There is no doubt that both sellers and buyers in the LBI NJ real estate market are facing a new environment. Over the past two years, the Long Beach Island and national real estate market have been on fire with bidding wars and a “name your price” mentality for sellers. Buyers have benefitted from incredibly low interest rates and enjoyed almost immediate equity appreciation. While the market still favors sellers, there are new opportunities for buyers. We are seeing more “normal” market conditions, such as home inspections and mortgage contingencies, as we enter a more balanced real estate market on Long Beach Island. That leaves us asking, how is the LBI real estate market doing this year compared to last year?

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market

More LBI Real Estate Information:

An Overview of Buying a Home in the Long Beach Island Real Estate Market

5 Questions to Ask Your Long Beach Island Real Estate Listing Agent

Four Reasons to Use an LBI Real Estate Agent

What is an LBI Real Estate Seller’s Market

Why Getting a Mortgage Pre-Approval is So Important When Buying a Home in the LBI NJ Real Estate Market

The Hidden Costs of Buying a Home in the Long Beach Island Real Estate Market

All About Long Beach Island New Jersey

Thursday, September 15, 2022

LBI Real Estate Buyers Are Gaining Some Advantages in Negotiation

 

LBI Real Estate Buyers Are Gaining Some Advantages in Negotiation






Long Beach Island Real Estate Buyers

There is no doubt that the Long Beach Island real estate market has changed in the past few months, and many of those changes have helped improve conditions for buyers in the LBI real estate sales market. While inventory is still very low and has, in fact, dropped by about a third in the last few weeks, sellers are no longer able to push the price of a home like they could a year or so ago. To be clear, the market has not dropped (if anything, it has increased slightly), and I do not foresee a crash coming. Instead, the LBI real estate market is moving to a more balanced market, which is a dramatic improvement for buyers on Long Beach Island.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market

More LBI Real Estate Information:

The Hidden Costs of Buying a Home in the Long Beach Island Real Estate Market

Four Reasons to Use an LBI Real Estate Agent

LBI Real Estate Equity

Flood Insurance in the Long Beach Island Real Estate

Benefits of Working With an LBI Real Estate Agent


Tuesday, September 13, 2022

LBI Real Estate Market Buyer Tips for Higher Mortgage Rates

 

LBI Real Estate Market Buyer Tips for Higher Mortgage Rates









Long Beach Island Real Estate Buyers and Mortgage Rates on LBI

Over the last two years, the Long Beach Island real estate market, and the national real estate market for that matter, have seen some monumental changes. 2022 is no exception, and there is no doubt we are in a transitioning marketplace on LBI. While the LBI real estate market has never been that impacted by interest rates (up or down), it is clear that the significant real estate headline for 2022 is the drastic rise in the cost of lending. The simple fact is, with rising mortgage interest rates, it is now more expensive to purchase and own a home in the LBI NJ real estate market. That said, there are three simple things all buyers in the Long Beach Island real estate market can do to help their home search.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market

You May Also Like:

The LBI NJ Real Estate Market and the Fair Housing Act

LBI Real Estate Market Appreciation vs Depreciation

What is an LBI Real Estate Seller’s Market

Ways to Use Equity in the LBI Real Estate Market

Two Reasons the LBI Real Estate Market is Not in a Bubble

How LBI Buyers Are Approaching Rising Interest Rates

Monday, September 12, 2022

Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 09/04/2022-09/11/2022

 

Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 09/04/2022-09/11/2022








Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 09/04/2022-09/11/2022: There were 51 changes to the Long Beach Island real estate market this week which is in line with the amount of activity we have seen in recent weeks. As the LBI real estate market continues to balance out, we are seeing decreased inventory and more and more pending sales. You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:

  • 12 new listings entered the market with an average price of $2,116,750
  • 15 listings went under contract with an average listing price of about $1,423,962
  • 10 properties sold on Long Beach Island with an average price of $1,716,600
  • 8 listings saw price reductions in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market

More LBI Real Estate Information:

LBI Real Estate Market Appreciation vs Depreciation

DIY Home Improvements That Can Increase Your LBI Real Estate Value

The Hidden Costs of Buying a Home in the Long Beach Island Real Estate Market

Ways to Use Equity in the LBI Real Estate Market

How LBI Buyers Are Approaching Rising Interest Rates

Sunday, July 17, 2022

LBI Real Estate Weekly Sales Update 7/10/2022-7/17/2022

 

LBI Real Estate Weekly Sales Update 7/10/2022-7/17/2022








Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 7/10/2022-7/17/2022: It was a relatively slow week for overall activity in the LBI real estate market with only 37 changes to the market, but the inventory of homes for sale improved! This is welcomed news for buyers, especially since the last few weeks saw a reduction in the number of homes for sale on Long Beach Island NJ. You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:

  • 15 new listings entered the market with an average price of $1,781,993
  • 10 listings went under contract with an average listing price of about $1,736,500
  • 4 properties sold on Long Beach Island with an average price of $1,644,975
  • 3 listings saw price reductions in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market

More LBI Real Estate Information:

LBI Real Estate Market Appreciation vs Depreciation

LBI Real Estate Closing

The Hidden Costs of Buying a Home in the Long Beach Island Real Estate Market

Four Reasons to Use an LBI Real Estate Agent

LBI Real Estate Wire Fraud

Tuesday, June 28, 2022

Two Reasons the LBI Real Estate Market is Not in a Bubble

 

Two Reasons the LBI Real Estate Market is Not in a Bubble






Long Beach Island Real Estate

There is a lot of concern about a drastic fall in home values across the LBI real estate market and elsewhere. While we cannot entirely rule out this as a possibility, it is crucial to understand that the data and facts point to a very different scenario in the Long Beach Island and national real estate market. It is easy to conclude that the rapid rise in home values will lead to an equally dramatic price crash (i.e., a real estate bubble like we saw in 2008), but this is a very different market. There are two principal distinctions between this market and the market 15 years ago: inventory and lending standards.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market

You May Also Like:

Four Key LBI Real Estate Market Trends

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All About Long Beach Island New Jersey

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Long Beach Island Towns and Communities